Raymond James Financial Inc. Sells 146,973 Shares of The Home Depot, Inc. $HD

Key Points

• Raymond James Financial Inc. has reduced its holdings in The Home Depot by 2.6% in Q1, now owning approximately 5.54 million shares, representing about 0.8% of its investment portfolio.
• The Home Depot reported Q1 earnings of $3.56 per share, missing analysts' expectations, but achieved a 9.4% year-over-year revenue growth with total revenue of $39.86 billion.
• After announcing a quarterly dividend of $2.30, Home Depot's annualized dividend stands at $9.20 with a yield of 2.3% and a payout ratio of 62.42%.

Raymond James Financial Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,540,952 shares of the home improvement retailer's stock after selling 146,973 shares during the quarter. Home Depot comprises 0.8% of Raymond James Financial Inc.'s holdings, making the stock its 17th largest holding. Raymond James Financial Inc. owned about 0.56% of Home Depot worth $2,030,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Menora Mivtachim Holdings LTD. lifted its stake in shares of Home Depot by 19.5% in the first quarter. Menora Mivtachim Holdings LTD. now owns 781,732 shares of the home improvement retailer's stock worth $286,497,000 after acquiring an additional 127,500 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in shares of Home Depot by 1.2% in the first quarter. Alliance Wealth Advisors LLC UT now owns 10,847 shares of the home improvement retailer's stock worth $3,975,000 after acquiring an additional 128 shares during the period. Roanoke Asset Management Corp NY lifted its stake in shares of Home Depot by 1.9% in the first quarter. Roanoke Asset Management Corp NY now owns 26,575 shares of the home improvement retailer's stock worth $9,740,000 after acquiring an additional 485 shares during the period. Gen Wealth Partners Inc grew its position in shares of Home Depot by 5.7% during the 1st quarter. Gen Wealth Partners Inc now owns 4,294 shares of the home improvement retailer's stock worth $1,574,000 after buying an additional 230 shares during the period. Finally, Wealthedge Investment Advisors LLC grew its position in shares of Home Depot by 6.0% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 2,098 shares of the home improvement retailer's stock worth $769,000 after buying an additional 118 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Jefferies Financial Group reduced their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday. DA Davidson reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Stock Down 1.3%

Shares of NYSE:HD traded down $5.1670 during trading on Wednesday, reaching $402.0330. 3,251,891 shares of the stock were exchanged, compared to its average volume of 3,544,838. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a fifty day moving average of $371.82 and a two-hundred day moving average of $371.43. The firm has a market cap of $399.99 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 242.51% and a net margin of 8.98%.The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the company earned $4.60 earnings per share. Home Depot's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio is 62.42%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.